2024 Tax season is here: This is what you need to know…

The Drive With Thando team (on 947) speaks to Nicolas Botha, Tax Team Compliance and Processing Manager at Tax Consulting SA.

Listen below.

The South African Revenue Service’s tax season for 2024 kicks off on 1 July with auto-assessments.

Auto assessments are done using third party data from your employers, bank accounts, etc.

“[SARS] issues you an assessment based on the information they have. It’s an auto-return that they file for you.”

– Nicolas Botha, Tax Team Compliance and Processing Manager – Tax Consulting SA

You must make sure all the information is accurate.

Queries can be logged before 21 October 2024.

“The system is not perfect so guys that have rental income, outside forces that are not within that third party data, they have to go and fix it.”

– Nicolas Botha, Tax Team Compliance and Processing Manager at Tax Consulting SA

“It’s vital that you are checking it and making sure it is accurate because ultimately the burden sits with you.”

– Nicolas Botha, Tax Team Compliance and Processing Manager at Tax Consulting SA

Dates for the 2024 filing season are:

• Auto-assessment notices: 1 to 14 July 2024
• Individual taxpayers (non-provisional): 15 July to 21 October 2024
• Provisional taxpayers: 15 July 2024 to 20 January 2025
• Trusts: 16 September 2024 to 20 January 2025

Scroll up to the audio player to listen to the discussion